Age: 33
Spouse’s/Partner's age: 33
Annual gross income from employment or profession: EUR 116,000 (of which we see 100%)
Annual gross income of spouse: EUR 35,000 (of which we see 100%)
Monthly take-home pay: EUR 12,478
Type of employment: e.g. Civil Servant, self-employed: Private sector expat in middle east
In general are you:
(a) spending more than you earn, or
(b) saving? -- Saving 65% of income.
Rough estimate of value of home: We do not own a home
Amount outstanding on your mortgage: n/a
What interest rate are you paying? n/a
Other borrowings – car loans/personal loans etc: None
Do you pay off your full credit card balance each month? Yes
Savings and investments:
Do you own any investment or other property? No
Ages of children: First (and probably only) baby on the way
Life insurance: Term Life insurance worth 200,000 for both spouses, plus employer life insurance covering him for EUR 450,000 and her for EUR 80,000
Things are going well. We save around 9,500 euro per month and have no debts. We live in a tax-free country and our jobs are stable. My wife will stop working when our baby is born. We are probably only going to have one child - maximum two. My employer would cover education costs and provide full insurance for the child. Even when my wife stops working, we expect to be able to save 70,000 euro per year while the child is under 3 years.
My question is whether I should buy a house in Ireland for cash now that I have the cash. We do ultimately want to move back there after all. The other option is to maintain our current investment strategy, which I like - but is there something to be said for buying a home now in Ireland, while prices are still relatively OK (outside Dublin, by the way)?
Thanks!
Spouse’s/Partner's age: 33
Annual gross income from employment or profession: EUR 116,000 (of which we see 100%)
Annual gross income of spouse: EUR 35,000 (of which we see 100%)
Monthly take-home pay: EUR 12,478
Type of employment: e.g. Civil Servant, self-employed: Private sector expat in middle east
In general are you:
(a) spending more than you earn, or
(b) saving? -- Saving 65% of income.
Rough estimate of value of home: We do not own a home
Amount outstanding on your mortgage: n/a
What interest rate are you paying? n/a
Other borrowings – car loans/personal loans etc: None
Do you pay off your full credit card balance each month? Yes
Savings and investments:
- Cash: EUR 10,000 emergency fund in bank a/c earning 0.5%
- European short-term government bond ETF: EUR 66,500
- Vanguard Developed Europe ETF: EUR 86,000
- Vanguard S&P 500 ETF: EUR 55,200
- Vanguard Emerging Markets ETF: EUR 13,250
- Employer Stock Purchase Plan: EUR 10,000
- NET WORTH = EUR 240,000
Do you own any investment or other property? No
Ages of children: First (and probably only) baby on the way
Life insurance: Term Life insurance worth 200,000 for both spouses, plus employer life insurance covering him for EUR 450,000 and her for EUR 80,000
Things are going well. We save around 9,500 euro per month and have no debts. We live in a tax-free country and our jobs are stable. My wife will stop working when our baby is born. We are probably only going to have one child - maximum two. My employer would cover education costs and provide full insurance for the child. Even when my wife stops working, we expect to be able to save 70,000 euro per year while the child is under 3 years.
My question is whether I should buy a house in Ireland for cash now that I have the cash. We do ultimately want to move back there after all. The other option is to maintain our current investment strategy, which I like - but is there something to be said for buying a home now in Ireland, while prices are still relatively OK (outside Dublin, by the way)?
Thanks!